MD Real Estate Summary August 2022
Divy Kangeyan
01 October, 2022
Maryland housing Data: August 2022
Units Sold
2021 - 2022 Comparison
% Change in Units Sold
Units Pending
Pending: Now that the seller and the buyer have agreed to each other’s terms and all contingencies have been met, the home is marked as pending and taken off the market
Units Pending: Number of houses that reached pending status
2021 - 2022 Comparison
% Change in Units Pending
Active Inventory
The inventory number is calculated by simply taking a count of the properties marked as active on the last day of the month
2021 - 2022 Comparison
% Change in Active Inventory
Average Sale Price
2021 - 2022 Comparison
% Change in Average Sale Price
Median Sale Price
2021 - 2022 Comparison
% Change in Median Sale Price
Median Days on Market
Median DOM: 50% of the houses had active status below this number of days and 50% of the houses had active status above this number of days.
2021 - 2022 Comparison
% Change in Median Days on Market
Months of Inventory
% Change in Months of Inventory
New Listings
2021 - 2022 Comparison
% Change in New Listings
Conclusions
Maryland consists of 23 counties and Baltimore City. Altogether 24 regions.
- Units sold is down in every county except for Caroline county
- Range of % YoY Change in Units sold is -43% to 2%
- Pending Sales is down in all but three counties - Dorchester,
Garett, and Allegany
- Range of % YoY Change in Units pending is -40% to 30%
- Active Inventory is up in 2/24 regions
- Range of % YoY Change in Active Inventory is -57% to 21%
- Average sale price is up in all counties except Talbot, Kent,
Dorchester and Caroline Counties
- Range of % YoY Change in Average Sale Price is -26% to 39%
- Median sale price is up in all counties except Talbot, Somerset and
Dorchester counties
- Range of % YoY Change in Median Sale Price is -23% to 51%
- Median days on market is down in 1/24 regions and Median DOM is up
in 21/24 regions. In 2/24 regions median DOM is unchanged
- In Garett county YoY median DOM decreased by 3 days and in Caroline county it increased by 13 days
- Months of inventory is up in 5 counties. In rest of the regions
months of inventory is down or the same.
- Range of % YoY Change in Months of Inventory is -45% to 45%
- New Listings are down in all of the regions except for Somerset
county
- Range of % YoY Change in Months of Inventory is -58% to -2%
Montgomery County trend: January - August 2022
Units Sold
% Change in Units Sold
Units Pending
% Change in Units Pending
Active Inventory
% Change in Active Inventory
Average Sale Price
% Change in Average Sale Price
Median Sale Price
% Change in Median Sale Price
Median Days on Market
% Change in Median Days on Market
Months of Inventory
% Change in Months of Inventory
New Listings
% Change in New Listings
Montgomery County trend: January - August 2022
Units Sold
% Change in Units Sold
Units Pending
% Change in Units Pending
Active Inventory
% Change in Active Inventory
Average Sale Price
% Change in Average Sale Price
Median Sale Price
% Change in Median Sale Price
Median Days on Market
% Change in Median Days on Market
Months of Inventory
% Change in Months of Inventory
New Listings
% Change in New Listings
Conclusions: Montgomery County
- Units sold is down from January through August
- % Change in units sold doesn’t show a consistent pattern; However, we observed the largest YoY decline in units sold in July (-30.01%) and in August the change was -27.19%
- Units pending is also down from January through August. Since
February YoY decline in units pending has been increasing and in July
this decline was 24.74%. In August pending sales increased but still
down YoY by 22.51%
- Difference was below 3% in February and except for that every other month YoY units pending is down more than 10%
- 2022 active inventory is also down compared to 2021 levels. However,
it improved every single month from January 2022 till June 2022. but
July there was a slight decline compared to June
- In January the YoY % difference was -50% but in August the YoY % difference was -33.25%
- Average sale price was lower in January 2022 compared to January
2021.
- Average sale price slightly increased in August 2022 from July 2022. Average sale price declined by around $58,547 from May to August 2022
- Average sale price is higher in 2022 compared to 2021. In August YoY increase was 7.02%
- Median sale price gradually increased every single month since
February 2022 to May 2022
- For the third consecutive month median sale price declined in August 2022. Median sale price declined by around $53,000 from May to August 2022
- In August YoY increase was only 2.16%. Smallest increases since February 2022
- Median Days on Market is higher in January 2022 compared to January 2021 by 2 days. From February through May there was no change in median days on market between 2022 and 2021. In July 2022 median DOM stayed the same as July 2021. Then in August 2022 median DOM increased by 1 day compared to August 2021
- Months of Inventory has been down throughout 2022; However, it has been gradually increasing since January with a decline in August compared to July. In January YoY change in months of inventory was -55.56% and in August it improved to -23.08%
- New Listings has been down throughout 2022 except for in February.
YoY change in new listings are lower in August compared to July.